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MARVEL Entertainment, LLC (marketed and stylized as MARVEL) is an American entertainment company founded in June 1998. It is based in New York and formed by the merging of Marvel Entertainment Group, Inc. and Toy Biz, Inc. Walt Disney acquired the company for $4 billion in 2009 and has been a Limited Liability Company since then. MARVEL settled a film-royalties lawsuit in April 2005 with the former editor-in-chief, publisher and creator of the comics, Stan Lee, by paying him $10 million to negotiate an end to his royalties. MARVEL is mainly known for its Marvel Comics, Marvel Animation and Marvel Television units. The Marvel gained its immense fanbase by producing a universe of movies that share each other's stories and continuity with some of the shows produced by the television unit. It completed Phase 3 of the Marvel Cinematic Universe with the movie, Avengers: Endgame in 2019 and are working on various movies and TV units for Phase 4 and 5.